Wheat futures were higher in all three markets, with KC HRW up 5 to 7 cents. Chicago SRW was up 6 to 7 cents and MPLS spring wheat advanced 3 to 3 cents. This morning, USDA indicated wheat export loadings totaled a paltry 274,506 MT last week. That was down 32% from the same week in 2016. Shipments since June 1 are 37 million bushels smaller than last year. The EU Commission today cut projected 2017/18 EU wheat exports from 27 MMT to 26 MMT, while also trimming their estimate of last year’s production by 500,000 MT.

Mar 18 CBOT Wheat closed at $4.33 1/2, up 6 1/2 cents,

Mar 18 KCBT Wheat closed at $4.34 3/4, up 7 1/2 cents,

Mar 18 MGEX Wheat closed at $6.18, up 3 1/4 cents

Market Commentary provided by:

Brugler Marketing & Management LLC
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